CVS Health Co. (NYSE:CVS) Shares Sold by Parthenon LLC

Parthenon LLC lowered its position in CVS Health Co. (NYSE:CVS) by 2.1% during the third quarter, Holdings Channel.com reports. The fund owned 148,461 shares of the pharmacy operator’s stock after selling 3,226 shares during the quarter. CVS Health accounts for 1.1% of Parthenon LLC’s holdings, making the stock its 27th largest holding. Parthenon LLC’s holdings in CVS Health were worth $9,335,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors raised its stake in shares of CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after acquiring an additional 3,232,172 shares during the period. Capital International Investors increased its holdings in CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of CVS Health by 1.4% during the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after purchasing an additional 184,297 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after buying an additional 7,382,931 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of CVS Health by 5.9% in the first quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock valued at $555,406,000 after buying an additional 389,166 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

Shares of NYSE:CVS traded up $0.46 on Wednesday, reaching $54.49. 1,211,082 shares of the company’s stock were exchanged, compared to its average volume of 11,298,077. The business’s 50-day moving average is $59.47 and its two-hundred day moving average is $58.88. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The firm has a market capitalization of $68.57 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.97 and a beta of 0.55.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $2.21 earnings per share. As a group, equities research analysts forecast that CVS Health Co. will post 5.44 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $59.00 to $85.00 in a report on Friday, October 4th. UBS Group upped their target price on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Evercore ISI upped their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Barclays dropped their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $73.00.

CVS Health Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.